Recent statistics from the Bureau of Labor Statistics paint a tough picture for veterans building up their new lives after discharge – with 6.9% unemployment among young veterans compared to 5.6% among non-veterans.
LINDON, Utah – Jan. 9 2015 – As the housing market experiences changes made this past October and many of our nation’s veterans are finding an economically inhospitable private sector after leaving the armed forces, Low VA Rates has commissioned the formation of a new Donor-Advised Fund with an initial gift of $200,000, with additional endowments to be given annually. The purpose of the fund? To sponsor as many veteran-oriented charities as possible.
While veterans can be huge assets to companies, younger veterans are having a harder time finding gainful employment than their nonveteran peers – the unemployment rate for younger veterans is 6.9% – compared to a civilian unemployment rate of 5.6% – according to the Bureau of Labor Statistics for December 2014.
Additionally, many veterans are finding themselves under-employed and working fewer hours than they would like. Veterans everywhere are having a hard time saving up enough money and maintaining enough positive cash flow to purchase a home, and are more-and-more finding themselves renting long term.
There are many charities, companies, and other organization in place that are working to fight on behalf of our veterans. The VA is offering a more comprehensive set of benefits to veterans that at any other time in the past, there are dozens of charity organizations that focus on helping veterans with everything from medical issues to financial advice to employment services, and there are many companies who use their resources to provide products and services that meet the specific needs of veterans. One of these companies is Low VA Rates.
Low VA Rates is a mortgage lender that specializes in offering loans through the VA loan program. The VA loan program offers loans to veterans under much friendlier and better terms than any other loan option available – including omitting the need for a down payment or mortgage insurance. Low VA Rates is especially passionate about providing these services to veterans and does everything it can to give veterans the support they need in building up their lives after discharge.
“When you are looking to do a loan and you have lots of choices we feel you should also try and determine, along with the lowest rates or best products, you want someone that you can trust, that has similar values and that supports what you support.” Says Eric Kandell, President of Low VA Rates.
Opening a Donor-Advised Fund is just the first step, according to Kandell, who intends to set an example and create a legacy that looks beyond the bottom line to really helping and serving those who have served us on a daily basis. Using a Donor-Advised Fund will also allow Low VA Rates to direct where the money is going to go:
“We will focus our support and donations toward military and veteran centric causes. All our donations from our Donor advised fund will go to 501C3s,” Kandell said.
Kandell and the staff at Low VA Rates hope to be able to contribute hundreds of thousands of dollars every year and watch the Fund grow into a never-ending legacy of charity and support for our nation’s military and veterans.